EUR/USD - Weekly Strategy (29 Apr - 03 May 2013)

Recommendations: SHORT positions below 1.3083 with 1.2910 & 1.2830 as next targets.
Alternative scenario:The upside breakout of 1.3083 will call for a rebound to 1.3190/280.
Description: The pair continued to maintain its bearish momentum last week below 1.3083 levels, now pressure will be on the key support 1.2972 levels, a break and hold below this level on a daily closing basis will look for the 1.2910 levels , where a breach will turn focus on the 1.2830 ahead of 1.2750 levels.On the upside, a failure to hold below 1.2972 levels on a daily closing basis, could mean a return to 1.3083 levels, break of 1.3083 on a daily closing basis will target 1.3190 where a breach will turn focus on the 1.3280 levels, ahead of 1.3370 levels.

Best Regards 


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